translated from Spanish: Only 14% of young people in Mendoza know that they can open their own account at a

The survey was broadcast on Monday, reached some 6,000 people aged between 13 and 18 from three provinces – Mendoza, Chaco and Neuquén – and serves as the basis for the implementation of a youth awareness program in the use of electronic money and to advance financial inclusion. The work indicates that only 14% of Mendozas know that they have the possibility to open a bank account while 80% responded they would like to be able to save in a bank even though they do not know how to do it. Chaco and Neuquén’s numbers were more encouraging: 37% and 25% respectively of respondents were aware of teen accounts. The pilot report complements an initiative of a document developed in conjunction with the Andean Development Corporation, which analysed financial capacities in larger age groups, and found that 74% of young people between the ages of 18 and 29 “prefer to give up their savings under the mattress or in a piggy bank, with the consequent detriment that that has for inflation,” mariano Iglesias, Head of Financial Education at the Central Bank, explained. they value finishing their studies or housing, when they were consulted what they would want to do if they could save.” Free teen accounts
Banks requested at least two months to comply with the optional Central Bank (BCRA) standard that last May enabled adolescents aged 13 to 17 to open a free savings bank without parental or guardian authorization. The extension was requested during a meeting held by a group of banking representatives at the end of June with the BCRA’s assistant general of Financial Regulation, Agustín Torcassi, who expressed interest in being able to be part of “a market 4 million young people,” financial sector sources said. The legislation, which is optional for banks, stipulates that teen accounts must be free and that they will be able to open them against the presentation of the ID card, in addition to setting as a monthly deposit limit a value that does not exceed a minimum wage, vital and mobile. Currently, the cap for accreditation on these accounts is 12,500 pesos. Source: Télam. In this note:

Original source in Spanish